The cars you can afford with your salary in South Africa at the start of 2023

ToxicBunny

Oi! Leave me out of this...
Joined
Apr 8, 2006
Messages
113,505
Most people in this country must be earning well with the types of cars on the roads
 

McRuder

Well-Known Member
Joined
Jun 11, 2007
Messages
191
Most people in this country must be earning well with the types of cars on the roads
People making high percentage residual deals based on combined gross incomes. As long as you make the payments the banks don't care what/if you eat.
 

koeks525

Executive Member
Joined
Jul 14, 2012
Messages
5,315
Shocked at how someone earning under R20K a month can qualify for vehicle financing. How do you pay the rent, groceries, insurance, fuel and car instalment with around R13/R14K net income (approximated net income on a gross of 20K)? Seems like a life of struggle waiting to happen. Maybe the balloon payment option does the trick, hahaha.

To me, it seems like you need to be earning a ton more, to afford the most basic vehicle - having a net income of at least R40K per month... so there is money to sustain the vehicle, money to save & invest, and money to pay rent, groceries, bills, etc.
 
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